TOWN OF HARVARD
FINANCE COMMITTEE
Minutes
Meeting Date: Feb 25, 2009
Meeting Place: Town Hall
Members Present: George McKenna (Chair) Steve Colwell, Marie Crowley Sobalvarro, Marie Fagan, Lori Granville, Bob Thurston
Others Present: Associate member Collyn Bradley, Paul Von Loeske; Lorraine Leonard, Finance Director; Tim Bragan, Town Administrator.
Meeting Time: 7:00 pm
Adjournment Time: 8:54 pm
Discussions and Actions
l Fin Comm Chair opened meeting soliciting public commentary.
l Minutes of Feb 21 accepted as amended.
l Discussion of how to adopt new budget formats: adding all sources and uses of funds; Chairman will draw up a strawman format.
l Fin Comm will review Board of Selectmen budget next week.
l Report from Fin Comm members who met with Library Director and some Trustees: Library comparable analysis needs more work, so it will not be accepted as a public document tonight.
l Town Administrator presented 2010 Recap.
l Fin Comm member noted she is not comfortable approving a budget when we have not decided how to use stabilization funds or how to use the 9-C cuts we did not have to take (the $120,000).
l;font-size:7pt;color:#000000;"> Motion to write a warrant article for Town meeting “Finance Committee recommends that the Town move $86,000 from FY2008 Free Cash account to FY2010 Reserve Fund; to close out warrant articles and transfer those funds to FY2010 Reserve Fund, in order that those funds can be potentially used to cover 9-C cuts or any unforeseen revenue shortfall.” Motion was seconded, and approved 5-1.
l More discussion of when and under what circumstances to use non-omnibus accounts.
l Fin Comm member handed out school committee materials.
l Discussion of whether Fin Comm will use 70/30 as basis for school/town budget cuts (relative to 2009) for 2010 budget. Chairman said decision can wait until we see preliminary roll-up of all budgets, before we apportion any cuts, but we don’t necessarily want to implement automatic 70/30 cuts.
l Next meeting set for Saturday Feb 28.
l Move to adjourn at 8:54PM.
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